(a)[2]
Calculate the partnership profit for the year ending 31 March 2022.
(b)[10]
Draw up the partners’ capital accounts on page 3 so that the closing entries are shown. Use the workings space provided to set out your calculations.
(c)[4]
Calculate the sum paid by J Limited into the partnership bank account.
(d)[4]
Prepare the partnership bank account so that the closing entries are shown.
(e)[5]
Advise whether J Limited should keep pursuing the expansion strategy or not. Justify your answer.